Home prices in Southern California soared a record 28.3 percent in
June from a year earlier, as buyers bought more expensive properties,
foreclosure sales continued to fall and inventory remained tight.
California housing prices increased by more than 30 percent in June,
with inventory rising in an encouraging sign for the
Jobs in real estate finance were up from a month earlier, when the total was an
upwardly revised 293,000 people in the business.
Mortgage activity declined sharply last week as interest rates hit a two-year
peak, the Mortgage Bankers Association said Wednesday.
Mortgage rates ticked down this week following last week's big jump,
but are still much higher than a year ago, Freddie Mac reported Wednesday.
New business at the Federal Home Loan Mortgage
Corp. fell to the lowest level this year, but delinquency, already at a four-year low, improved.
Mortgage rates fell this week for the first time in seven weeks,
Freddie Mac reported Thursday, with the a 30-year fixed averaging just under 4 percent.
More U.S. home builders viewed business conditions favorably than unfavorably
for the first time in more than seven years in June, a trade group said.
Though the national average rate for a
30-year loan dropped to a low of 3.31, it's rebounded to nearly 4
percent. That's made refinancing existing loans less attractive.
Property taxes are still a major concern for New Jersey voters, with 79
percent reporting an increase in their tax bills.
The San Antonio housing market continued its spring surge last month,
with home sales hitting a five-year high.
Gov. Rick Scott of Florida signed a bill Tuesday that will
distribute $200 million in mortgage relief, saying the new law would hold
banks accountable and shield homeowners from foreclosure abuses.
Led by big gains in Western states, a dramatic rise in national home prices in April over the year prior underscored how low supply and strong demand have become powerful boosts for
the nation's housing market.
Zooming home prices have people wondering if California
real estate is heading for another bubble and another
The Federal Housing Finance Agency said its home price index was up 1.9 percent in the first quarter, and home prices rose 6.7 percent on a 12-month basis, down from the 7.1 percent annual inflation rate from the end of February.